The Central Bank of Nigeria (CBN) has warned that hawking of the new naira notes is punishable under the law.
Reacting to reports of some persons hawking the notes in Delta a director at the CBN, Mr Sam Okejere, said trading in naira notes contravenes Section 21 of the CBN Act, 2007 which is punishable under Section 21 Subsection 4 of the Act.
Some persons suspected to be Point of Sales (POS) operators or Shared Agents Network Expansion Facilities (SANEF) Agents have been hawking the redesigned naira notes at exorbitant prices in Delta State.
In spite of the law prohibiting the hawking of naira notes and coins, the perpetrators were seen freely doing their businesses around their POS shops and other places.
It was also observed that trading in the new naira notes was receiving patronage as customers thronged the banks, rushing to beat the January 31 deadline.
In spite of its scarcity in circulation, large wads of different denominations of…
Source: Leadership Newspaper
